Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced that Micross Components, Inc. has entered a definitive agreement to purchase Infineon’s HiRel DC-DC converter business including its hybrid and custom board-based power products. This sale will enable Infineon to extend its focus and investments on core semiconductor developments for the high-reliability market while deemphasizing businesses that require more customized product offerings for the high-reliability industry. The deal is expected to close in the first quarter of the calendar year 2023.
“Infineon is pleased to have reached an agreement with Micross to provide a more strategic home for our HiRel DC-DC converter business,” said Bob LeFort, President of Infineon Technologies Americas. “We believe this sale is in the best interest of both companies; our customers, employees, and shareholders. This transaction enables Infineon to remain focused on the HiRel business areas that benefit from Infineon’s leading semiconductor technologies. We look forward to working with Micross to ensure a seamless transition for our customers and employees.”
Vince Buffa, Chairman and CEO of Micross, said, “We are pleased to have reached an agreement with Infineon on their HiRel DC-DC converter business and to have the opportunity to partner with their highly experienced team which further expands Micross’ design capabilities. We are excited about the significant proprietary power management IP that combined with their state-of-the-art manufacturing capabilities and product portfolio leads the way for the advancement of innovative solutions. We will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realize our exciting growth prospects, all while upholding excellent quality and service to our customers.”
The HiRel DC-DC converter business is a leading provider of high-reliability DC-DC power conversion solutions for the toughest environments, including outer space, and will operate under the Micross Hi-Rel Products business segment. These DC-DC converter products are complete power solutions, including the main power converter, control circuits, filters and housing.
“We are dedicated to our customer and partner base, and will continue to leverage our existing resources and talent to develop innovative solutions together,” said Chris Opoczynski, Sr. Vice President and General Manager, HiRel Business Line, Infineon Technologies. “In our retained HiRel businesses, Infineon will strengthen its focus on these target applications, along with others that demand the highest reliability and highest performance. We are committed to the mission-critical space, defense, and aerospace industries.”
